Countering Corporate Corruption in China Act of 2023
This bill expands the activity prohibited under the Foreign Corrupt Practices Act (FCPA) applicable to issuers of securities, domestic concerns, and others. (The FCPA generally prohibits bribes to foreign officials.)
For example, the bill includes as prohibited corrupt practices
- certain activity supporting human rights abuses by China against Uyghurs, Kazakhs, and members of other predominately Muslim ethnic groups;
- certain activity supporting censorship or human rights abuses by China with respect to individuals in Hong Kong;
- supporting certain territorial claims by China;
- political advocacy in favor of the Chinese Communist Party; and
- investing in specified Chinese entities.